event header image
Event

Multifamily Realities vs. Headlines

Hosted by Sunstone Properties Trust
April 15, 2021
11:00 AM - 12:00 PM
Panel
Share

The pandemic has created significant problems for certain classes of real estate and while multifamily real estate has fared better than most, the impact of Covid on other sectors has created issues in the debt markets and in household income that has had an impact on all sectors and the economy in general. Defaults and foreclosures leading to discounted pricing have not yet occurred to any significant degree and while additional weakness is anticipated when eviction moratoriums are removed, the multifamily market is expected to remain stable due to pent up demand, agency lending and significant liquidity attracted to the sector.

The reason the fallout from Covid has been limited so far is largely due to actions taken by lenders, asset managers and tenants to work cooperatively in developing payment plans and workout solutions in lieu of taking more extreme measures.

  • Changes in the market since March 2020 in terms of sales activities, acquisition opportunities, cap rates and debt markets.
  • Asset classes and markets experiencing the most stress, expectations of fallout as compared to past recessions.
  • How Sunstone has approached acquisitions over the last six months and investment strategy for the next 6 to 12 months.
  • Discussion regarding the impact of Covid on construction/renovation projects as well as supply chain.
  • Sunstone's experience with rent collections, occupancy and rent growth and the impact of eviction moratoriums.
  • Covid challenges in asset management and operational changes made to meet the challenges.

Recording

Multifamily Realities vs. Headlines

Attachments

FLAIA Multifamily Webinar (4-15-2021).pptx
Download
9644 kB

Speakers

Kristina Garcia
Associate Director U.S. Multifamily Capital Markets Research @ Cushman & Wakefield
Susan Tjarksen
Managing Director @ Cushman & Wakefield
John Hansen
Chief Investment Officer @ Sunstone Properties Trust
Ernest Johnson
Executive Managing Director @ ApexOne Investment Partners
Michael B. Cohen
Vice President, Advisory Service @ CoStar Group

About

company logo

ApexOne Investment Partners, LLC, a Texas limited liability company, is headquartered in Houston, Texas, with offices in Chicago, Illinois, Boca Raton, Florida, and Phoenix, Arizona, and, together with its affiliates, has substantial experience in real estate acquisition, syndication, financing, development, and disposition, as well as real estate transaction management. James A. Hearn, Ernest Johnson, Tim Burns, William Saul, and David Steele are the principals of ApexOne (the “Principals”).


Following on the success of ApexOne Growth & Income Fund I, LP, a Delaware limited partnership (“Fund I”), ApexOne Growth & Income Fund II, LP, a Delaware limited partnership (“Fund II”), and ApexOne Multifamily Fund III, LP, a Delaware limited partnership (“Fund III”), ApexOne has formed ApexOne Multifamily Special Situation Fund IV, LP, a Delaware limited partnership (the “Partnership”), to make investments in direct and indirect equity interests in multifamily residential properties, including those requiring capital infusion, repositioning, post-development leasing or which may be subject to a distressed sale, as well as indebtedness secured by such multifamily residential properties.


ApexOne Investment Partners has acquired 46 properties and invested over $1.5B in workforce and student housing communities over the last seven years. ApexOne prides itself on providing excellent living environments to its residents, high returns, and transparent communications to its investors while reducing the environmental impact of their properties. Their fund level returns on fully cycled properties have averaged over 28% and Over 94% of ApexOne’s investors have repeatedly invested in all three of their Funds.

company logo

Sunstone is a fully integrated real estate operator, developer and fund sponsor in business since 2012. After 30 years in the commercial real estate business, the founders of Sunstone chose workforce multifamily housing as a sector because of its solid performance throughout varying economic cycles. Sunstone performs its own architectural design work, construction, asset management and fund management to achieve maximum efficiency, cost containment and investor returns. Its acquisition team sources transactions with proprietary software and a network of local brokers. Capital markets works with investors and lenders to optimize Sunstone's access to debt and equity. Risk is managed through a comprehensive due diligence and underwriting process with investment committee oversight. Hands-on portfolio management is effected from acquisition through disposition. Sunstone's markets include Texas, Florida, California, Arizona and Nevada.

company logo

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.

company logo

We equip our clients with the information and tools they need to succeed in every aspect of their business, across all asset classes. As the largest commercial real estate information and analytics provider, we take pride in empowering industry professionals with the most compressive data to make decisions with confidence. That’s the power that comes with knowing.